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Fraud*
According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia

Friday, February 15, 2013

Goldman Sachs: Regulation is Good for Others, Not Us

Goldman Sachs suggests regulation is needed in Russia in order to attract investors to that country.  Strange that what is good for others is staunchly lobbied against at home; namely, regulations.
Human Rights Group Lambasts Goldman Sachs Over Russia
By Kenneth Rapoza - Forbes

The Human Rights Foundation last week slammed Goldman Sachs for their ongoing relationship with the Russian government, saying the bulge bracket bank was basically aiding and abetting a criminal enterprise.

They argued for Goldman Sachs to cease accepting payments from Russia, payments that go towards helping the bank make Russia look good to potential investors and international rating agencies. Russian officials last month announced that they will pay the Wall Street firm $500,000 over the next three years to help the Putin regime lure foreign cash.

Read the whole article here

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Posted by Joyce

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